Fintech / Regtech

Fintech / Regtech

MAS Issues Information Paper on AI Model Risk Management

By Nithya Subramanian | 06/12/2024

The paper sets out good practices for managing risks associated with AI, including GenAI, based on a thematic review of banks’ practices.

Fintech / Regtech

EU Adopts New Legislative Package to Strengthen Cyber Resilience

By Thisanka Siripala | 06/12/2024

The legislation will establish a pan-European ‘cybersecurity alert system’ and a ‘cybersecurity emergency mechanism’ to enhance the EU’s response capabilities.

Fintech / Regtech

MAS Extends Deadline to Cease Corporate Cheque Processing

By Nithya Subramanian | 05/12/2024

MAS also launched a consultation paper proposing a roadmap to sunset corporate cheques and a transition plan for retail cheques.

Big Picture

BIS Paper Examines Choice Between Retail CBDC, FPS, or Both

By Editors | 05/12/2024

The choice depends on the market features, ecosystem, and degree of maturity and innovation of existing payment infrastructures in a country.

Big Picture

Geopolitical Risk Seen as Top Risk to Financial Industry in 2025

By Editors | 05/12/2024

The top threats to the financial industry identified in DTCC’s latest Systemic Risk Barometer Survey were geopolitical risk and cyber risk.

Crypto / Digital Assets

ASIC Seeks Feedback on Updated Guidance for Digital Assets

By Thisanka Siripala | 05/12/2024

ASIC proposes to regulate digital assets like traditional financial products, requiring crypto firms to apply for an AFS licence.

AML / KYC

UK FCA Finalises Updates to Financial Crime Guide

By Editors | 04/12/2024

The financial crime guide is updated to provide additional guidance on sanctions, proliferation financing, transaction monitoring and cryptoassets.

Crypto / Digital Assets

Permissionless Blockchains Can Enhance Traditional Financial Services

By Editors | 03/12/2024

European Commission report says public permissionless blockchains represent a promising alternative to permissioned platforms.

Fintech / Regtech

DBS, EnterpriseSG, IMDA Launch Programme to Upskill SMEs on GenAI

By Nithya Subramanian | 03/12/2024

The programme offers SMEs a “structured, simplified approach” to discover use cases and practical applications of GenAI solutions for their business operations.